1.How Star Xu (Xu Mingxing)’s OKX Exchange Carries Out Its “Pig-Butchering” Scam
How many more traders does OKX need to dupe before regulators finally bother to lift a finger?
I'm Denny (Xiao daxia), former Head of Huobi Futures Market Making / Key Accounts. I have a deeper understanding of exchange risk control and technology than most.
The incident happens at around 5:00 a.m. on October 11, 2025, I received a price alert and opened the OKX app immediately to manage my positions when market volatility spiked.
I tapped on the app repeatedly, yet no matter how many times I tapped, the app remained completely frozen, with the trading interface showing no response whatsoever.
Consequently, my positions were forcibly liquidated, leaving me locked out and unable to act.
(Screenshots of trading records attached)
2.OKX Require Me to “Prove My Own Innocence”
3.Analysis & Summary
This appears to be a textbook case of a technologically driven scam — commonly known as a "Pig-Butchering" scheme and I shall now demonstrate its operational steps.
Step 1: Triggering the Trap
Fact: on October 11, 2025, around 5:00 a.m., I received a market alert and opened the OKX app to take action.
Result: The app was completely unresponsive — I could not access the trading interface at all. My position was then liquidated.
Conclusion: The system effectively “locked me out” at the most critical moment, removing my ability to manage my own funds.
Step 2: Executing the Harvest
Fact: I could only re-enter the app after my positions were already forcibly closed.
Conclusion: I was left helpless — like meat on a chopping board — and my assets were transferred without my ability to defend them.
Step 3: The ultimate cop-out
OKX shifted the burden onto me, demanding I “prove” it wasn’t my fault.
Their logic, in essence: “We took your money. Now prove we took it — or it never happened.”
This appears to be a systemic and orchestrated deception.
4.Next Steps
I, Xiao daxia (Denny), declare that everything stated above is true to the best of my knowledge, and I am willing to bear legal responsibility for my statements.
This incident raises serious concerns about whether a fraudulent, system-controlled “Pig-Butchering” model is being used on Star Xu’s OKX.
I Call for:
All users trading on Star Xu’s OKX should stay aware of these issues. I will continue to publish updates and evidence.
I Seek Your Help:
How should such incidents be reported to regulatory authorities in the United States, Singapore, and Hong Kong?
How do we report the matter to the police or initiate civil proceedings?
Any professional advice or assistance is welcome — valuable contributions will be duly rewarded.
被OKX杀猪盘诈骗的受害者，请联系肖大侠，肖大侠协助您们去立案。
Xiao daxia (Denny)
Contact:
WeChat: denny-xdx
Telegram:
WhatsApp: +65 81275073
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October 25, 2025